SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — ON Semiconductor Corp. (ON) on Monday reported first-quarter earnings of $453 million.
On a per-share basis, the Scottsdale, Arizona-based company said it had net income of $1.04. Earnings, adjusted for one-time gains and costs, were $1.08 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The semiconductor components maker posted revenue of $1.86 billion in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $1.85 billion.
For the current quarter ending in June, ON Semiconductor Corp. expects its per-share earnings to range from 86 cents to 98 cents.
The company said it expects revenue in the range of $1.68 billion to $1.78 billion for the fiscal second quarter.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ON at https://www.zacks.com/ap/ON
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
